Fox_Technicals

Fox_Technicals Updated 

Impinj is showing a really nice amount of strength following comments from the chip company saying that they are expecting Q4 revenue to top guidance. Couldn't have come at a better time as chip companies like AMD and NVDA may be continuing their run soon. Should be interesting to see the kind of action we get from this level..stay tuned.

Fox_Technicals

Aussie dollar is showing considerable promise here off 97.5. USD may get extended soon and hopefully provides some upside support here. Range narrowing

Fox_Technicals

Tech sector ETF AMEX:XLK is showing incredible resilience following TSM earnings which is currently leading the market. I believe over the intermediate term we will see AMEX:XLK push to new highs especially with NASDAQ:AAPL trying to carve out a bottom. The green line below is from the previous trade we made which was a success and is provided in the links...

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Were looking at the strength of Datadog and wondering if now might be a good time to accumulate longs in this 125 range while we have a chance...

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AMD is showing incredible resilence over the majority of it's peers and the SMH index. Currently this and NVDA are the preferred semi conductor companies and should be followed closely here as there's some chance that this continues to move to the upside off 160...

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We're currently looking to see if Ethereum is a resonably buy in the 2500 range. Currently, this risk asset looks to be preferred over both Bitcoin and USD. Can the run continue? We'll have to wait and find out.

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AMEX:URA showing promise here at 30 and we could be looking at a turn around in price soon. Growth stocks may need to find their footing and dollar may need to soften a bit but for now, this seems like a decent spot for longs. Best of luck traders.. The green line at 27.5 was where our previous trade occured for a nice little run and is linked to this post.

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Salesforce has been showing a lot of strength lately and could be poisted to move even higher off this 270 handle. We may need to see more weakness out of the dollar so may need to stay patient. However, we currently believe this may be one of the leaders should equities continue higher over the long run.

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Shopify seems poised for more upside following this break of 80. We'll be watching to see if we get more follow through

Fox_Technicals Updated 

Despite it's this run so far, it is possible we see crypto names continue to move higher as a potential Ethereum and Bitcoin breakout could be on the horizon.

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Crypto is still showing strength here and I'm curious to see if it's proxies like RIOT, HUT and MARA will continue their run as well.

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We're looking at emerging markets here for a possible intermediate term pop above the 40 handle possibly into 41. China will need to stop going down and KWEB will need to hold 25 but we'll see. Good look traders!

Fox_Technicals

We're seeing a greater than 50% chance that the Fed starts cutting in March and I'm starting to wonder if we may need to start getting positioned for a possible probing higher as we look to see how many bulls are interested in gold considering the dollar's weakness.

Fox_Technicals Updated 

XLK bulls are showing incredible resilience at 185 and it looks like the buying could continue here. XLY also showing promise which means the market as a whole may continue to be resilient.

Fox_Technicals Updated 

Qualcomm is showing some incredible resilience off the lows and I'm curious to see if it could lead the semi sector on a potential move up. Were going to look to see if bulls can bid up this area.

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Looking at the Dow Jones Industrial Average vs Russell 2000 I believe we are looking at potential strength from the later. Growth stocks continue to stay buoyant.

Fox_Technicals Updated 

XLE is seeing tremendous underperformance vs broader inflation products and growth equities and I believe that it may see lower prices soon. 85 seems to be a major point of contentious for the market and stocks like CVX, XOM and COP aren't doing bulls any favors. We'll see what this one has in store for us...

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Crude and XLE are in a precarious position and could be on the verge of seeing lower prices. I suspect any pullbacks in the market may cause the energy sector to be a major laggard to the downside. Good luck traders!